All Forum Posts by: Shain Ismailovski
Shain Ismailovski has started 11 posts and replied 233 times.
Post: 20 year old tenant, 0 credit score

- Real Estate Agent
- New Jersey
- Posts 237
- Votes 168
This would be a judgement call on your end. You can have their parents co-sign as a precaution or simply tell them you require a credit score of "x" amount and not consider them.
Post: Steps to take for tenant ending lease early?

- Real Estate Agent
- New Jersey
- Posts 237
- Votes 168
There isn't much for you to do. Since you already agreed on it make sure to get in writing or text message form at the least that the tenant agrees to be out by the agreed upon date and can't extend it. Since you both agreed there isn't anything to really be concerned about.
Post: Landlord Lease Forms

- Real Estate Agent
- New Jersey
- Posts 237
- Votes 168
@Robert Lei Yes, they're free for pro members
Post: Cold calls/texts from “investors”

- Real Estate Agent
- New Jersey
- Posts 237
- Votes 168
There's an app cold "Hiya" that will automatically block spam callers.
Post: Real Estate License, is it a good starting strategy?

- Real Estate Agent
- New Jersey
- Posts 237
- Votes 168
Hi Spencer getting your license is a helpful to learn the industry a bit better, but just know the process to get started can be more costly than some expect. Paying for licensing courses, state tests, MLS dues, and a variety of other fees can add up, especially the yearly or bi-yearly renewal fees for licenses, Realtor associations, MLS fees, and various admin fees . Also it does take time to build your business and months could pass before you complete one deal, sometimes longer.This is where those fees can sting if you're not actively closing deals and making money. It's a tough road, but it does give you the benefit of seeing everything your local MLS has to offer. You can also make connections with various lenders and other agents easier. Measure out the pros and get an idea for the costs before you commit. Best of luck!
Post: Do I replace a roof that isn't leaking?

- Real Estate Agent
- New Jersey
- Posts 237
- Votes 168
I would wait until you have to as this will effect the cash flow you are receiving from your rent. It is good to be proactive with things like this but if there is no urgency I would wait until you have some funds from the rent built up before replacing the roof. You can use your money now to update more tenant facing features of the unit aka the cosmetic end but I would wait a few more years before taking action on the roof.
Post: Bergen County New Jersey Market

- Real Estate Agent
- New Jersey
- Posts 237
- Votes 168
My advise would be to look at similar homes in the area that have sold and observe what they have that your home does not. Sometimes it is a simple as a fresh coat of paint and new appliances. Bathrooms and kitchens are some of the areas that new home buyers pay the most attention to so focusing on these rooms can help add value to the home. Sites like Zillow are a great resource because you can look at all the sold properties along with pictures. Paramus is a very attractive market. Don't go too overboard with modifications and improvements at risk of losing more money than you'd make.
Post: Renting a Small House on Same Lot as Larger Home

- Real Estate Agent
- New Jersey
- Posts 237
- Votes 168
Depending on the size and desire you may be able to rent it fairly successfully since it is a full home with no shared indoor space. I wouldn't be discouraged by the property. If it makes sense and there is a market for it in your area then it is no different than getting a 3 unit home.
Post: Eviction paperwork to court date

- Real Estate Agent
- New Jersey
- Posts 237
- Votes 168
It is usually a few weeks to get a court date depending on the court's docket. The entire process itself can take anywhere from weeks to months to complete.
Post: first year filing taxes as a real estate investor.

- Real Estate Agent
- New Jersey
- Posts 237
- Votes 168
A good accountant who knows the business I probably one of the most important members of your team. You can cut costs on a lot of things, but I wouldn't recommend it for this.